About a-team Marketing Services
The knowledge platform for the financial technology industry

A-Team Insight Blogs

FSB Publishes Cyber Lexicon in Response to G20 Request

Subscribe to our newsletter

The Financial Stability Board (FSB) has published a Cyber Lexicon comprising a set of about 50 core terms related to cyber security and cyber resilience in the financial sector. The lexicon is a result of industry consultation and is designed to support the work of the FSB, standard-setting bodies, authorities, financial institutions and international standards organisations to address financial sector cyber resilience.

The FSB suggests the lexicon could be useful in areas such as cross-sector understanding of cyber security and cyber resilience terminology, work to assess and monitor financial stability risks of cyber risk scenarios, information sharing, and work by the FSB and standard-setting bodies to provide guidance related to cyber security and cyber resilience, including identifying effective practices.

For example, the Cyber Lexicon will be used to support work on an FSB project developing effective practices relating to a financial institution’s response to, and recovery from, a cyber incident. A progress report on this project will be published by mid-2019.

The FSB has developed the lexicon in response to a request from G20 Finance Ministers and Central Bank Governors at their October 2017 meeting. The lexicon will be delivered to the G20 Leaders’ Summit in Buenos Aires later this month.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Perpetual KYC: compliance as the source of better business

Perpetual KYC (pKYC) opens the door for financial institutions and corporations to improve customer onboarding & monitoring processes, reduce operational costs, ensure regulatory compliance, and better understand risk exposures in real time. Unlike traditional or periodic KYC, pKYC continually reviews and updates client data in near real-time providing ongoing data accuracy and accurate risk management....

BLOG

Financial Crime is a Decision-Speed Problem: Rethinking AI in AML and Compliance Controls

Financial crime compliance is often described as a resourcing challenge. Firms speak of analyst backlogs, alert volumes and the rising cost of surveillance and screening. Kieran Holland, Solutions Engineering Team Leader at Innovative Systems’ FinScan, argues that the underlying constraint has shifted. Financial crime has become a decision-speed problem. “The fight against financial crime is...

EVENT

TradingTech Summit New York

Our TradingTech Summit in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

What the Global Legal Entity Identifier (LEI) Will Mean for Your Firm

It’s hard to believe that as early as the 2009 Group of 20 summit in Pittsburgh the industry had recognised the need for greater transparency as part of a wider package of reforms aimed at mitigating the systemic risk posed by the OTC derivatives market. That realisation ultimately led to the Dodd Frank Act, and...